证券代码：000514 证券简称：渝开发 公告编号：2025-053 重庆渝开发股份有限公司 2021 年度第一期中期票据 2025 年付息公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 为保证重庆渝开发股份有限公司2021年度第一期中期票据 （债券简称：21重庆渝开MTN001；债券代码：102101786）付息 工作的顺利进行，方便投资者及时领取付息资金，现将有关事宜 公告如下： 一、本期债券基本情况 1、发行人：重庆渝开发股份有限公司 2、债项名称：重庆渝开发股份有限公司 2021 年度第一期 中期票据 3、债项简称：21 重庆渝开 MTN001 8、债项余额：3.3 亿元人民币 9、评级情况：主体信用等级 AA 10、本计息期债项利率：3.00% 11、利息支付日：2025 年 9 月 3 日（如遇法定节假日， 则顺延至下一工作日） 12、本期应偿付利息金额：990.00 万元 4、债项代码：102101786 5、发行金额：3.3 亿元人民币 6、起息日：2021 年 9 月 3 日 7、发行期限：5 年 联系方式：023-63856455/ ...

Market Overview - The Shanghai Composite Index rose by 0.85% on August 18, with 29 sectors experiencing gains, led by the communication and comprehensive sectors, which increased by 4.46% and 3.43% respectively [1] - The real estate and oil & petrochemical sectors were the biggest losers, declining by 0.46% and 0.10% respectively, with the real estate sector at the top of the decline list [1] Capital Flow Analysis - The net outflow of capital from the two markets was 16.057 billion yuan, with 8 sectors seeing net inflows. The electronics sector led with a net inflow of 5.040 billion yuan and a daily increase of 2.48%, followed by the communication sector with a net inflow of 4.904 billion yuan and a daily increase of 4.46% [1] - The non-bank financial sector had the largest net outflow, totaling 7.087 billion yuan, followed by the power equipment sector with a net outflow of 5.090 billion yuan. Other sectors with significant outflows included pharmaceuticals, basic chemicals, and real estate [1] Real Estate Sector Performance - The real estate sector declined by 0.46% with a total net outflow of 2.004 billion yuan. Out of 100 stocks in this sector, 40 rose, including 1 hitting the daily limit, while 45 fell, including 1 hitting the lower limit [2] - Among the stocks with net inflows, the top three were Tibet Urban Investment with a net inflow of 55.565 million yuan, Tianbao Infrastructure with 33.574 million yuan, and Rongsheng Development with 22.805 million yuan [2] - The stocks with the largest net outflows included Wantong Development with a net outflow of 757.669 million yuan, Quzhou Development with 581.442 million yuan, and Poly Development with 179.508 million yuan [3]

证券日报网讯 渝开发8月11日在互动平台回答投资者提问时表示，公司以房地产开发为主营业务线，会 展、物业等城市经营为支撑业务线，公司拟立足新时代城市开发经营服务商的总体定位，业务模式以城 市开发为主业，业态以"住宅+商业"为主，公司未来的经营模式拟定为"开发+运营"。 （编辑 袁冠琳） ...

Group 1: Company Overview - Chongqing Yukaifa Co., Ltd. was established on December 2, 1978, and listed on the Shenzhen Stock Exchange on July 12, 1993, being the first real estate developer in Chongqing and the only state-owned listed real estate developer in the city [2][4]. Group 2: Fundraising Projects - The company plans to raise no more than 640 million yuan for projects including Grammy City, Guanjin He Mansion Phase I, and Nanyue Tianchen Phase I and II, along with supplementary working capital [3][4]. - The fundraising amount was adjusted from a maximum of 700 million yuan to 640 million yuan after reassessment of community commercial properties and kindergartens [3]. Group 3: Market Conditions - In 2025, Chongqing implemented various policies to optimize the real estate market, including adjustments to housing transaction management and support for housing "old-for-new" exchanges, which have boosted confidence among stakeholders [4]. Group 4: Financial Performance - The company experienced a decline in both revenue and net profit in 2024. However, in the first half of 2025, it reported a significant improvement in operating performance due to a non-recurring gain of 240 million yuan from the transfer of a 1% stake in Chongqing Langfu Real Estate Co., Ltd. [5]. - The forecast for the net profit attributable to shareholders for the first half of 2025 is between 175 million yuan and 225 million yuan [5]. Group 5: Strategic Direction - The company aims to position itself as a city development and operation service provider, focusing on a business model centered around "residential + commercial" [6][7]. - To mitigate the seasonal and cyclical nature of the real estate business, the company is diversifying into supporting and expanding businesses, including exhibition services, asset management, property management, and area development, with a future operational model of "development + operation" [7].

Market Performance - On August 5, the Chongqing state-owned enterprise reform sector rose by 1.15% compared to the previous trading day, with Shanghai Sanmao leading the gains [1] - The Shanghai Composite Index closed at 3617.6, up 0.96%, while the Shenzhen Component Index closed at 11106.96, up 0.59% [1] Stock Performance - Shanghai Sanmao (600689) closed at 13.04, up 6.02% with a trading volume of 114,200 shares and a turnover of 147 million yuan [1] - Qianli Technology (601777) closed at 8.65, up 3.10% with a trading volume of 826,100 shares and a turnover of 719 million yuan [1] - Other notable stocks include: - Dengkang Dental (001328) at 44.44, up 2.56% [1] - Yushansha A (000565) at 8.63, up 1.77% [1] - ST Huicheng (002168) at 3.87, up 1.04% [1] Capital Flow - The Chongqing state-owned enterprise reform sector saw a net inflow of 15.70 million yuan from main funds, while retail funds had a net inflow of 50.19 million yuan [2] - However, speculative funds experienced a net outflow of 65.90 million yuan [2] Individual Stock Capital Flow - Qianli Technology (601777) had a main fund net inflow of 29.63 million yuan, while speculative funds saw a net outflow of 42.24 million yuan [3] - Other stocks with significant capital flow include: - Jieling Pickled Vegetables (002507) with a main fund net inflow of 10.84 million yuan [3] - Sanfeng Environment (601827) with a main fund net inflow of 7.61 million yuan [3] - Notably, Chongqing Water (601158) had a main fund net inflow of 1.09 million yuan, while retail funds saw a net outflow of 3.13 million yuan [3]

Core Viewpoint - Chongqing Yu Development Co., Ltd. has experienced a decline in stock price, with a cumulative drop of -6.27% over four consecutive trading days, indicating potential concerns regarding its market performance [1]. Company Summary - Chongqing Yu Development is a state-owned backbone enterprise controlled by Chongqing Urban Construction Investment (Group) Co., Ltd. [1]. - The company has recently seen the entry of Taikang Fund's Taikang New Growth Mixed A fund into its top ten shareholders, marking a significant investment move [1]. Fund Performance - Taikang New Growth Mixed A fund has achieved a year-to-date return of 33.36%, ranking 363 out of 4121 in its category [1]. - The fund manager, Han Qing, has a strong background in securities research and investment, having worked in various reputable firms and received multiple awards for his analytical skills [3][4].

天眼查商业履历信息显示，重庆渝开发股份有限公司，成立于1992年，位于重庆市，是一家以从事房地 产业为主的企业。企业注册资本84377.0965万人民币，实缴资本84377.0965万人民币。公司法定代表人 为陈业。 通过天眼查大数据分析，重庆渝开发股份有限公司共对外投资了13家企业，参与招投标项目933次，知 识产权方面有商标信息62条，此外企业还拥有行政许可126个。 渝开发最新一期业绩显示，截至2025一季报，公司营业总收入7704.03万元、同比减少1.64%，归属净利 润1.80亿元，同比增长786.39%，扣非净利润2063.24万元，同比增长47.45%，流动比率2.044、速动比率 0.597、资产负债率42.61%。 金融界消息 截至2025年7月30日收盘，渝 开 发（000514）报收于5.74元，下跌2.71%，换手率5.05%， 成交量42.59万手，成交金额2.48亿元。 来源：金融界 资金流向方面，今日主力资金净流出3753.11万元，占比成交额15.12%。其中，超大单净流出1485.08万 元、占成交额5.98%，大单净流出2268.04万元、占成交额9.14%，中单净流出流 ...

Group 1: Business Strategy and Performance - The company aims to enhance sustainable profitability by diversifying its business matrix, maintaining real estate development while expanding into exhibition operations and property management, transitioning from a traditional developer to a comprehensive urban operation service provider [2] - Current projects for sale include only three: Chayuan Phase III, Huixing Xinghe Botang Phase III, and Guanjin and Fu Phase I, with the sales performance closely tied to market conditions [2] - The Xinghe Botang project has shown good sales performance, and the company plans to accelerate inventory sales and optimize marketing strategies to enhance project attractiveness [2] Group 2: Financing and Risk Management - The company extended the validity period for the resolution regarding the issuance of shares to specific targets until July 19, 2026, with the total fundraising amount adjusted from no more than 70 million yuan to no more than 64 million yuan [3] - Future impairment risk assessments will be conducted based on inventory impairment policies and market environment changes, with garages being the main impaired product [3] - The company does not plan to increase land reserves frequently but will prioritize acquiring high-quality land that aligns with its long-term strategy based on market conditions [3] Group 3: Support and Commercial Leasing - The controlling shareholder, Chongqing Urban Investment Group, provides support to the company from multiple dimensions, with future collaboration and resource integration to be evaluated based on business development needs [3] - The company maintains stable overall returns on commercial assets through market-driven rent adjustments, asset maintenance, and functional renovations in response to the economic environment [3]

Group 1 - Chongqing Yu Development Co., Ltd. has experienced a continuous decline for six trading days, with a cumulative drop of -14.69% [1] - The company is a state-owned backbone enterprise controlled by Chongqing Urban Construction Investment (Group) Co., Ltd. [1] - Southern Fund's Southern CSI Real Estate ETF is among the top ten shareholders of Yu Development and has increased its holdings in the second quarter of this year [1] Group 2 - The Southern CSI Real Estate ETF has a year-to-date return of -2.26%, ranking 3367 out of 3410 in its category [2] - The fund manager, Luo Wenjie, has a strong background with a Master's in Mathematical Finance from the University of Southern California and experience at Morgan Stanley [3][4] - Luo Wenjie has been managing various funds since 2013, with a total management time of over 12 years [4]

Core Viewpoint - As of July 22, 2025, 40 real estate companies have disclosed their half-year performance forecasts, with 16 companies reporting positive net profits, indicating a potential recovery in the industry driven by project deliveries, asset sales, and capital market investments [1][3][4]. Group 1: Company Performance - Among the 16 profitable companies, notable performers include Chengjian Development, Yudai Development, and Chengtou Holdings, which have turned losses into profits, with expected net profits of 4.4-6.54 billion, 1.75-2.25 billion, and 1.2-1.8 billion respectively [2][3]. - Yudai Development reported the highest profit growth rate among the turnaround companies, with a year-on-year increase of 630.3% to 781.82% [3]. - Chengjian Development and Zhujiang Shares also showed significant profit growth rates of 420.29%-574% and 366.67%-483.33% respectively [3]. Group 2: Factors Driving Profitability - The primary reasons for the profitability of the turnaround companies include project deliveries, increased turnover periods, and improved gross margins, with seven out of ten companies citing these factors [5][6]. - The recovery of the A-share market has positively impacted companies like Zhujiang Shares and Chengjian Development, as their stock assets appreciated in value [7]. - Policy support, including relaxed housing demand controls and increased financing support, has contributed to the improved operating conditions for real estate companies [8]. Group 3: Challenges Ahead - Despite the positive outlook, uncertainties remain for companies like Yudai Development and Wanye Enterprises, as their profitability has been significantly influenced by asset sales rather than operational improvements [9]. - Yudai Development's expected net profit of 1.75-2.25 billion is largely attributed to the sale of a 1% stake in a subsidiary, raising concerns about the sustainability of this profit growth [9]. - Companies are advised to focus on enhancing internal management and controlling costs to ensure long-term profitability and stability in the market [10].